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Scott A McGregor

Broadcom 1st-Quarter Net Surges, Helped by Mobile Growth

Broadcom Corp.'s (BRCM) first-quarter profit more than doubled as the chip maker continued to benefit from growth in the mobile market.Chief Executive Scott McGregor said the better-than-expected results in the latest quarter were driven by wireless baseband and connectivity chips."Looking forward, we see broad-based sequential growth driven by our industry-leading portfolio of wired and wireless communications platforms," Mr. McGregor said.For the current quarter, the company expects revenue of around $2.1 billion, above the $2.05 billion consensus estimate from analysts polled by Thomson Reuters.Broadcom, a supplier to smartphone giants Apple Inc. (AAPL) and Samsung Electronics Co. (005930.SE, SSNHY), has been one of the beneficiaries of a strong mobile market. Signs of a slowdown in demand for Apple iPhones and iPads led some analysts to voice concerns in recent days about Broadcom's latest-quarter earnings, but the chip maker's diverse customer base was expected to soften any blow....

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